Oppenheimer Asset Management Inc. Buys Shares of 15,957 The Middleby Co. (NASDAQ:MIDD)

Oppenheimer Asset Management Inc. purchased a new position in The Middleby Co. (NASDAQ:MIDD) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 15,957 shares of the industrial products company’s stock, valued at approximately $2,220,000.

A number of other large investors also recently modified their holdings of MIDD. Entropy Technologies LP bought a new stake in shares of Middleby in the 3rd quarter worth approximately $250,000. Versor Investments LP acquired a new stake in Middleby in the third quarter worth $348,000. State of New Jersey Common Pension Fund D lifted its stake in Middleby by 3.4% in the third quarter. State of New Jersey Common Pension Fund D now owns 17,364 shares of the industrial products company’s stock valued at $2,416,000 after buying an additional 570 shares during the last quarter. Crossmark Global Holdings Inc. boosted its holdings in shares of Middleby by 17.5% during the third quarter. Crossmark Global Holdings Inc. now owns 3,725 shares of the industrial products company’s stock valued at $518,000 after acquiring an additional 554 shares during the period. Finally, Covestor Ltd grew its position in shares of Middleby by 306.5% during the third quarter. Covestor Ltd now owns 252 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 190 shares during the last quarter. 98.55% of the stock is currently owned by institutional investors.

Middleby Stock Performance

Shares of NASDAQ MIDD opened at $136.00 on Friday. The Middleby Co. has a 1 year low of $118.41 and a 1 year high of $161.01. The firm has a market cap of $7.32 billion, a P/E ratio of 18.76 and a beta of 1.58. The stock has a fifty day moving average price of $136.95 and a two-hundred day moving average price of $133.41. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.70 and a current ratio of 2.81.

Middleby (NASDAQ:MIDD) last announced its earnings results on Thursday, October 31st. The industrial products company reported $2.33 earnings per share for the quarter, missing the consensus estimate of $2.48 by ($0.15). Middleby had a net margin of 10.14% and a return on equity of 14.66%. The firm had revenue of $942.81 million for the quarter, compared to the consensus estimate of $996.60 million. During the same period in the prior year, the business earned $2.35 EPS. The company’s quarterly revenue was down 3.9% compared to the same quarter last year. Research analysts forecast that The Middleby Co. will post 9.2 EPS for the current fiscal year.

Analysts Set New Price Targets

MIDD has been the topic of several recent research reports. JPMorgan Chase & Co. boosted their target price on shares of Middleby from $118.00 to $120.00 and gave the company an “underweight” rating in a research note on Friday, August 2nd. StockNews.com upgraded Middleby from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Canaccord Genuity Group restated a “buy” rating and issued a $164.00 target price on shares of Middleby in a research report on Saturday, September 14th. Canaccord Genuity Group reduced their price target on Middleby from $164.00 to $155.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Finally, Robert W. Baird increased their price target on Middleby from $155.00 to $169.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $154.67.

Middleby Company Profile

The Middleby Corporation designs, markets, manufactures, distributes, and services foodservice, food processing, and residential kitchen equipment worldwide. Its Commercial Foodservice Equipment Group segment offers conveyor, combi, convection, baking, proofing, deck, speed cooking, and hydrovection ovens; ranges, fryers, and rethermalizers; steam cooking, food warming, catering, induction cooking, and countertop cooking equipment; heated cabinets, charbroilers, ventless cooking systems, kitchen ventilation, toasters, griddles, charcoal grills, professional mixers, stainless steel fabrication, custom millwork, professional refrigerators, blast chillers, cold rooms, ice machines, and freezers; soft serve ice cream, coffee and beverage dispensing, home and professional craft brewing equipment; and fry dispensers, bottle filling and canning equipment, IoT solutions, and controls development and manufacturing.